 "FirstClub raises $8mn in seed funding round from Accel and RTP Global")
FirstClub Technology, a member-only retail platform, has raised $8 million in seed funding round from Accel & RTP Global.
This funding round also saw participation from Blume Founders Fund, Quiet Capital, 2am VC and prominent angel investors including Binny Bansal of Flipkart, CRED’s Kunal Shah, Mukesh Bansal of Myntra, Cult, Lalit Keshre of Groww, Ankit Nagori of Eatfit, and Shrenik Ghodawat of Sanjay Ghodawat Group.
The company was founded by Ayyappan R, former senior VP at Flipkart, chief business officer at Myntra and the erstwhile CEO of Cleartrip.
The funds will be utilised to build its technology infrastructure, refine an omnichannel retail strategy, on-board top-tier talent across critical functions, and expand the platform’s product offerings. The full platform is set to go live by mid-2025.
The vision for FirstClub is to become a quick commerce-first omnichannel retailer, leveraging offline experience stores to highlight the difference in the quality of its merchandise. The focus is on creating a platform that not only serves customers but also provides brands with a unique opportunity to connect with affluent households.
“India is often seen as a mass-market economy, but the time has come to unlock demand by providing access to high-quality, premium products at the right price. Our goal is to create a trusted platform that brings together the best of Indian regional specialties, international gourmet products, and innovative D2C brands,” said Ayyappan R, founder of FirstClub.
The platform will initially launch with packaged foods, fresh foods, bakery, dairy, nutrition, and supplements, catering to consumers who prioritise well-being and quality.
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Barath Shankar Subramanian, Partner at Accel, said, “FirstClub is reimagining the retail for India’s consumers by addressing their growing demand for premium products and services. Ayyappan and his team are redefining what modern retail can deliver. With Ayyappan’s leadership and deep operational expertise, we’re excited to partner with FirstClub as they shape the next phase of retail for a rapidly evolving market.”
Nishit Garg, Partner at RTP Global, said, “At RTP Global, we have always believed in backing exceptional entrepreneurs who bring not just vision, but also the resilience and deep market understanding that comes from hands-on operational experience. Ayyappan is a prime example of this, leveraging his extensive background as an operator to craft a business that directly addresses evolving consumer needs. With FirstClub, he is pioneering a new approach to retail and we are excited to partner with him on this journey.”